has and will continue to disrupt and revolutionize all industry sectors. The common denominator for investment selection is large markets underserved by recent progress in software and technology. While earlier generation technologies have been adopted, these industries have had limited exposure to more advanced software and computing devices which have been revolutionized by the internet and smart mobile devices.

The trend toward Internet of Things (“IoT”) is top of mind and the next wave of internet innovation. IoT is defined as bringing together people, process, data and things to make networked connections more relevant and valuable than ever before, turning information into actions that create new capabilities, richer experiences, and unprecedented economic opportunity. The IoT will create opportunities in healthcare, security, education, media, financial services, to name just a few. The Internet of Things is becoming a global platform upon which the high growth, high technology companies Tappan Hill seeks to invest in will be founded.

The selection of this investment focus has taken into account sectors known for efficient use of capital investment, term to realization and specialized domain experience of the Management Team.

The investments will be made into a diversified portfolio of companies not normally available to the general public and enable investment in an asset class with generally higher earning potential. The portfolio will be primarily diversified from seed stage companies to early growth companies. On a rare occasion, the Fund will consider an opportunistic investment in a later stage company with the potential for a near-term, high return liquidity event.